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Friday, October 25, 2013

FCNR term deposit is very hot at the moment. As I said in my last post it Right time to invest in FCNR deposit, it's the perfect time to get much better interest rates on foreign currency in India than abroad. If you consider USD interest rates, then Indian banks are offering up to 5.53% interest rates for five years deposit, this looks awesome.

Thursday, August 29, 2013

There is a wise saying that "one penny saved is one penny earned". This is true even in the world of investment and saving. In today's volatile world your gain on equities or other investment options e.g. bond or fixed deposit can quickly erode due to depreciation in currency. This is what happening currently in India, with rupee depreciating to record low and inching towards physiological 1 USD = 70 INR, talk of capital protection is gaining momentum over capital appreciation. Since everybody focuses on capital appreciation and that is also the main objective of saving and investment, but if you don't pay enough attention to what happening around the world, you may quickly lose all your appreciation. If you are an NRI, who has positions on Rupee e.g. may be with an investment in equities or real estate, you can understand that with falling rupee, all those capital appreciation quickly erode.

Tuesday, August 27, 2013

Well, I am not an analyst, who can say that whether it's right time to invest in gold or not, but since I am a common man like many others, which follows some simple rules while investing money and follows principle of diversity, I made to think that is it right time to buy Gold? Well, many people will say, YES, buy gold, the price is lower from the peak, invest in gold, it's the perfect time to buy gold etc. It's natural to think like that, and everybody can think like that, which makes me a little worry, because if everybody can guess anything, which means there is not much value on that task. So in my opinion, it's not the best time to buy gold, at least for some time, except the Systematic Investment Plan (SIP) part, which always continues, despite market conditions.

Friday, August 23, 2013

If you are sending money to India from any abroad location e.g. United States, Singapore, United Kingdom, or Australia, it's worth checking rates offered by different remitting services e.g. DBS India Remit, HDFC Quick Remit, ICICI money2India, Times money Remit2India, Axis bank remittance services and SBI bank itself. Given current volatility in exchange rates, you may end up losing a good sum of money up to 1000 to 5000 Rupees, given your choice of remitting services. Since all of above provide good services and connectivity in terms of sending money to different cities in India or even sending money to a different branch of the different bank. For example, You can use ICICI Moeny2India to send money to your Mumbai HDFC account or Bangalore Kotak Mahindra account, in fact to any branch and any city. Which means, there is no point sticking with just one service or bank for transferring money to India.

Thursday, August 22, 2013

With Rupee falling every day and touching a new all-time low of almost $1 to Rs 65, many of NRI Indians are asking this question, is it a right time to transfer money to India or is it the right time to invest in FCNR deposits on Indian banks. If you have transferred dollars to India recently, many are just a fortnight ago, you might be regretting your decision to miss this increase in exchange rates. But there are many Indians, which are also thinking to take advantage of both increase in exchange rates as well as high-interest rates offered by Indian banks. Since NRE fixed deposits are not that attractive, due to recent fall in rupees values, in fact, you would earn more than FD if you keep your money in dollar itself, but FCNR (Foreign Currency Non Resident) deposits are unique, it keep money in the foreign currency itself e.g. in USD, GBP, SGD, AUD or JPY, depending upon your FCNR deposit currency.